BBVA said on 20 March 2026 that it would launch a second €1.0 billion tranche of its extraordinary share buyback programme, starting on 23 March. The tranche follows a first tranche of €1.5 billion that began on 22 December 2025 and was completed by 6 March.
The programme, worth up to €3.96 billion, was announced on 19 December 2025 after obtaining all required authorisations. BBVA described it as the largest buyback in its history. It came two months after the bank’s hostile offer for Banco Sabadell failed to win enough acceptances in October 2025, after which BBVA said it would accelerate shareholder remuneration.
RETURNING SURPLUS CAPITAL
The remaining amount of the programme, approximately €1.5 billion, is subject to approval by BBVA's governing bodies.